Stocks to watch: The domestic stocks are expected to open on a solid note on Monday, September 23. At 7:43 AM, the GIFT Nifty futures were trading 86 points, or 0.33% higher at 25,920 levels. This, as per publicly available information, indicates that the NIFTY50 will open 152 points higher.
In global markets, Asian stocks firmed on Monday ahead of central bank meetings that are widely expected to deliver two more rate cuts and key US inflation figures that should flash a green light for more easing there.
Wall Street closed flat on Friday, hovering near the previous session's record-high close for the Dow and S&P 500, while the dollar firmed as investors digested the Federal Reserve's 50-basis-point cut midweek that started a rate-reducing cycle.
Here is a list of stocks that may remain in focus today.
Vodafone Idea: Debt-ridden
Vodafone Idea on Sunday said it has awarded contracts worth about ₹30,000 crore to Nokia, Ericsson, and Samsung for supply of 4G and 5G network equipment for three years. "Vodafone Idea has concluded a mega, about USD 3.6 billion (around ₹300 billion) deal with Nokia, Ericsson, and Samsung for supply of network equipment over a period of three years.
The capex programme is directed towards expanding the 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets, and capacity expansion in line with data growth," the company said in a statement.
HFCL: Home-grown telecom firm
HFCL has been selected by General Atomics Aeronautical Systems Incorporated to develop and supply critical sub-systems for the US-based defence technology firm's advanced unmanned aircraft systems, the company said on Sunday. HFCL is developing drone detection radar, which is expected to become a crucial element in modern drone detection systems.
Dreamfolks Services:
DreamFolks, a lounge access provider, said on Sunday that all its “contractual agreements remain in full force” amid disruptions experienced by passengers accessing airport lounges. The company is currently addressing a temporary disruption in its services. A spokesperson for DreamFolks said, “…We are fully compliant with our obligations and are executing our services accordingly.”
Aster DM Healthcare: Sri Sainatha Multispecialty Hospitals Private Limited, a wholly-owned subsidiary of the company, has entered into a lease agreement with Aparna Constructions and Estates on September 22, 2024, for setting up a new Aster Woman and Children Hospital in Hyderabad.
SpiceJet: SpiceJet has raised ₹3,000 crore through the sale of shares to qualified institutional buyers, providing a much-needed tailwind for the struggling airline. The airline's fundraising committee, on September 20, approved the allotment of more than 48.70 crore shares at a price of ₹61.60 apiece to the more than 80 QIP participants, according to a regulatory filing.
The total amount for which the securities have been issued is nearly ₹3,000 crore.
Glenmark Pharma: Glenmark Pharmaceuticals has announced that its formulation manufacturing facility located in Chhatrapati Sambhaji Nagar (Aurangabad), Maharashtra, has successfully cleared the US Food and Drug Administration (USFDA) inspection with zero observations. The inspection was conducted from September 9 to September 20, 2024. In conclusion, the USFDA has issued Form 483 with zero observations.
BHEL: Bharat Heavy Electricals (BHEL) has received an order worth over ₹6,100 crore from NTPC to set up a supercritical thermal power project in Chhattisgarh. The order includes an engineering, procurement, and construction (EPC) package for the 1x800 MW Sipat supercritical thermal power project stage-III located in Bilaspur, Chhattisgarh.
Aarti Drugs: Aarti Drugs announced that the United States Food and Drug Administration (USFDA) conducted an inspection at its active pharmaceutical ingredient (API) manufacturing facility located in MIDC, Tarapur, Maharashtra.
The API inspection was conducted from September 12 to September 20, 2024. At the conclusion of the inspection, the USFDA issued a Form FDA 483, which included seven inspectional observations. Notably, none of the observations were related to data integrity.
ONGC: As per reports, ONGC Videsh and the State Oil Company of the Azerbaijan (SOCAR), along with other global oil majors, have signed a new deal for the exploration, development and production of Non-Associated Natural Gas (NAG) reservoirs of the ACG field in the Azerbaijan sector of the Caspian Sea.
HDFC Bank: Shares of the private sector lender will be in focus today as its board has given in-principle approval to initiate the process of listing equity shares of its subsidiary HDB Financial Services.
The board has cleared the proposal for the initial public offering of equity shares of HDB Financial Services of a face value of ₹10 each, comprising a fresh issue of shares up to ₹2,500 crore, HDFC Bank said in a regulatory filing.
Tata Steel: Tata Steel on Friday commissioned India's largest blast furnace at the Kalinganagar plant, which will help it increase the plant's production capacity to 8 million metric tons per year from 3 million metric tons per year. The company commenced the ₹27,000-crore second phase of expansion of its Kalinganagar project in Odisha in November 2018.
Dixon Tech: Shares of the company will be in focus as, under a transformative collaboration with the US, India will get its first-ever national security semiconductor fabrication plant that will produce chips for use in military hardware in both countries as well as in critical telecommunication networks and electronics.
The ambitious India-US joint project was announced following talks between Prime Minister Narendra Modi and US President Joe Biden in Wilmington on Saturday.
Mankind Pharma: Mankind Pharma's board on Friday approved a proposal to raise up to ₹10,000 crore through non-convertible debentures (NCDs) and commercial papers. The New Delhi-headquartered pharmaceutical firm plans to raise the funds by issuing bonds on a private placement basis.
With inputs from Reuters
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